Accounting for Law Firms — Build a Stronger Case for Financial Growth
Attorneys face unique financial challenges, from managing client trust accounts to navigating complex partnership structures and planning for succession. Riley & Company supports solo practitioners, boutique firms, and multi-partner law offices with customized tax and accounting services designed to reduce administrative burden, improve profitability, and guide strategic growth.
Why Choose Us for Law Firm Accounting?
Deep Legal Industry Knowledge
We understand the operational and financial needs of law firms, including billing cycle management, case-related expenses, and compliance with trust account requirements.
Time-Saving Solutions for Busy Attorneys
Our outsourced CFO and bookkeeping services reduce time spent on back-office work, so you can focus on your clients and your casework.
Tax Planning Built for Legal Structure
We optimize tax strategies for sole proprietorships, partnerships, LLPs, and professional corporations, minimizing liability while ensuring full compliance.
Guidance Through Growth and Transition
From business start-ups to mergers and acquisitions, our advisory services help law firms scale responsibly and transition smoothly.
Litigation Support and Business Valuation
We offer expert financial analysis for litigation cases, partner disputes, and valuation for buy-in/buy-out scenarios.
How We Support Law Firm Clients
Outsourced CFO & Cash Flow Management
We review financial systems, streamline cash flow processes, and provide high-level guidance to improve profitability and decision-making.
Tax Strategy & Compliance
Our CPAs handle tax return preparation and strategic planning tailored to the specific needs and income structures of legal professionals.
Mergers, Acquisitions & Succession Planning
We guide you through entity structuring, partner transitions, and succession strategies to protect the long-term health of your firm.
Bookkeeping & Payroll Services
We manage day-to-day financial transactions and ensure timely, compliant payroll processing for attorneys and firm staff.
Financial Reporting & Valuation
We provide reliable monthly financial statements and business valuations for litigation, loan applications, or partner equity discussions.
Your law firm deserves financial strategies as sound as your legal counsel. Partner with Riley & Company for smart, tailored support.
Our Proven Process
Initial Consultation & Firm Evaluation
We begin with a comprehensive understanding of your firm’s structure, case volume, billing cycle, and financial goals.
Strategic Roadmap & Engagement
Based on your priorities, we design a custom mix of services—whether it’s cash flow management, outsourced CFO, or tax planning.
System Implementation & Oversight
We implement new accounting systems or refine existing ones to ensure efficient, compliant, and scalable operations.
Ongoing Reporting & Advisory
You’ll receive clear financial reports, tax updates, and strategic advice that align with your evolving firm needs.
Elevate Your Practice with Strategic Financial Oversight
Managing a law firm requires more than legal acumen—it demands financial clarity, compliance, and long-term planning. Riley & Company delivers accounting solutions that help attorneys and law firms operate efficiently and grow confidently.
FAQ
Frequently Asked Questions
-
Do you work with both solo practitioners and large law firms?
Yes. We support legal professionals at every stage—from solo attorneys to multi-partner practices and expanding legal groups.
-
How can an outsourced CFO help my law firm?
Our outsourced CFO services provide financial analysis, cash flow forecasting, and strategic planning without the overhead of a full-time hire.
-
Do you assist with law firm mergers or partner buy-ins?
Absolutely. We offer advisory services, due diligence support, and valuation for mergers, acquisitions, and internal transitions.
-
Are you familiar with trust account compliance?
Yes. We understand and help maintain compliance with IOLTA/trust account regulations, which are critical for law firm integrity.
-
How often do you provide financial reporting?
We offer monthly, quarterly, or on-demand reporting tailored to your firm’s preferences and compliance requirements.